A comparative balance sheet and income statement is shown for Cruz, Incorporated

CRUZ, INCORPORATED
Comparative Balance Sheets
At December 31	2021	2020
Assets
Cash	$ 63,600	$ 15,900
Accounts receivable, net	27,400	33,700
Inventory	57,400	63,300
Prepaid expenses	3,500	2,900
Total current assets	151,900	115,800
Furniture	70,500	82,200
Accumulated depreciationFurniture	(10,900)	(6,200)
Total assets	$ 211,500	$ 191,800
Liabilities and Equity
Accounts payable	$ 10,000	$ 14,100
Wages payable	6,000	3,300
Income taxes payable	1,000	1,800
Total current liabilities	17,000	19,200
Notes payable (long-term)	20,700	47,800
Total liabilities	37,700	67,000
Equity
Common stock, $5 par value	153,600	124,000
Retained earnings	20,200	800
Total liabilities and equity	$ 211,500	$ 191,800

CRUZ, INCORPORATED
Income Statement
For Year Ended December 31, 2021
Sales	$ 328,400
Cost of goods sold	211,300
Gross profit	117,100
Operating expenses (excluding depreciation)	60,000
Depreciation expense	25,300
Income before taxes	31,800
Income taxes expense	11,600
Net income	$ 20,200

Required: Use the indirect method to prepare the operating activities section of Cruzs statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.)

Cash flows from operating activities
Net income		$20,200
Adjustments to reconcile net income to net cash provided by operating activities
Income statement items not affecting cash
Depreciation	$25,300
		25,300
		$45,500